J.C. Penney has released a list of 154 US stores set to close this summer, after liquidation sales that are set to start June 12. The company won bankruptcy court approval Thursday for a $900 million financing plan designed to fund the department store's reorganization.
Lego has put advertising for more than 30 toy sets, some featuring police stations and the White House, on hold amid protests and unrest over the killing of George Floyd by a Minneapolis police officer. The company also plans to donate $4 million to nonprofit groups educating children about racial equality.
PVH, the parent company of Calvin Klein and Tommy Hilfiger, will contribute $100,000 each to the National Urban League and the NAACP Legal Defense and Education Fund, two groups working for racial justice. The company has also vowed to match contributions made by employees through the end of June.
Luxury parka and outerwear brand Canada Goose plans to cut back on wholesale deals with department stores and build higher-margin sales at its branded stores this year as it recovers from the pandemic shutdown. Shipments to department stores stalled in March as retail closures started.
Retail around the country is starting to reopen, and the experience will be much different from pre-pandemic times. Stores have new signage and floor markings to promote social distancing, tech tools are being used to help shoppers find merchandise before entering the store and the focus of in-store innovation has shifted from experience to safety.
The co-founder and former CEO of now-defunct delivery startup Shyp has launched a new venture called Airhouse that aims to make shipping easier for direct-to-consumer brands. Airhouse has created a national warehouse network where brands will be able to store goods before shipping.
Canada's Sail has filed for protection from creditors and plans to shutter two stores in Ontario and four in Quebec due to the pandemic. The closures will leave the outdoor gear retailer with 12 shops and its e-commerce operation.
Tesco plans to open its 13th Jack's discount grocery store in a former Mothercare space in northern England. Tesco launched the Jack's concept in 2018 with a low-priced model similar to ALDI and Lidl that focuses on private-label lines.
Fashion retailer New Look is negotiating with landlords to change the leases on most of its 500 stores in the UK and Ireland to sales-based rent deals. "As we look towards beginning to safely reopen stores, we can confirm we are in discussions with landlords regarding rental arrangements which fairly reflect the retail operating environment," a spokesperson said.
India's retailers say they're not likely to turn to discounts and sales as their mall stores start to open next week. While retail operators such as Arvind Fashions and Future Retail have inventory to move after being closed during the lockdown, executives say the priority is avoiding crowds and helping shoppers maintain social distancing.
- Page 1